1. (a) A participating unit may adopt an ordinance or a resolution to transfer any money belonging to the participating unit to:

   1. (1) the fire protection territory fund established under section 8 of this chapter;
   2. (2) the fire protection territory equipment replacement fund established under section 8.5 of this chapter; or
   3. (3) both funds described in subdivisions (1) and (2).

2. (b) An ordinance or a resolution adopted under this section must state both of the following:

   1. (1) The amount of money transferred to either fund.
   2. (2) The source of the money.
3. (c) The transfer of money from a participating unit to a fire protection territory before July 1, 2008, is legalized.

As added by P.L.128-2008, SEC.8.